Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2015
Jun. 30, 2014
CURRENT ASSETS:    
Cash $ 107,627 $ 87,799
GST tax receivable 11,647 946
Prepaid expenses and other current assets 502,616 25,000
TOTAL CURRENT ASSETS 621,890 113,745
Security deposit 1,684 0
Property and equipment, net 3,494 0
TOTAL ASSETS 627,068 113,745
CURRENT LIABILITIES:    
Accounts payable 236,466 350,004
Accrued expenses and other payables 386,311 422,326
Convertible notes and related accrued interest, net 1,794,375 272,424
Loans and notes payable 27,558 33,909
Embedded conversion option liabilities 780,281 0
Warrant derivative liability 269,648 158,244
Due to directors - related parties 35,108 60,350
Loans from directors and officer - related parties 79,416 161,975
Employee benefit liability 71,421 62,827
TOTAL CURRENT LIABILITIES $ 3,680,584 $ 1,522,059
Commitments and Contingencies (See Note 9)
STOCKHOLDERS' DEFICIT:    
Common stock, $0.001 par value; 2,000,000,000 shares authorized; 347,442,013 and 72,684,767 shares issued and outstanding as of June 30, 2015 and June 30, 2014, respectively $ 347,442 $ 72,685
Additional paid-in capital 17,458,745 16,374,781
Accumulated other comprehensive income (loss) 100,968 (302,863)
Accumulated deficit (20,965,671) (17,552,917)
TOTAL STOCKHOLDERS' DEFICIT (3,053,516) (1,408,314)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT 627,068 113,745
Series A Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT:    
Preferred stock value 5,000 0
TOTAL STOCKHOLDERS' DEFICIT 5,000 0
Series B Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT:    
Preferred stock value 0 0
TOTAL STOCKHOLDERS' DEFICIT $ 0 $ 0